Homes sell better with print and online marketing: research
RESEARCH has found house sellers are raking in an extra $10,000 on their sale price through marketing in The Morning Bulletin and online.
The figures from independent property data and analytics provider CoreLogic RP Data show the average house sale, not listing, price for those who used the two mediums together between December 2013 and November 2014 was about $345,000.
Houses solely marketed online averaged $335,000.
The analysis shows real estate is not just about location, location, location - sellers must also consider promotion, promotion, promotion.
CoreLogic RP Data executive general manager of solutions Greg Dickason said the real key to maximising success was in print marketing.
He said it was clear advertising in print tended to help properties sell faster and closer to the asking price.
Mr Dickason said the money made through print marketing justified sellers paying for advertising in the newspaper.
Ray White Rockhampton principal David Bell agrees about the importance of print.
He said some agents believed they were saving their clients money not using newspaper marketing, but they were often doing them an injustice.
"If you don't promote it how are you supposed to sell it," Mr Bell said.
"I think it's good to do a combination of both to get a good outcome.
"I think either on their own is not a good idea."
Mr Dickason said the data disproved some real estate agents' beliefs online marketing was more effective.
CoreLogic RP Data has been honing this study for about three years.
Mr Dickason said the company analysed every listing in print, on agencies' websites and on major online portals that collate thousands of online listings.
Analysts investigate where each property is advertised, its time on the market, the offer price and the value of the final deal.
The study also found using both platforms increased the sales success rate 55% for Rockhampton region houses.
Mr Dickason explained the percentage reflected the number of properties sold of those listed.
Houses advertised in The Morning Bulletin and online
increase in success rate: 55%
increase in sold price: 3.1%
increase in sell price: $10,527
average days on the market: 72
Source: CoreLogic RP Data
NINE STEPS TO SELLING YOUR PROPERTY
1. Choose an agent
2. Sale method
3. Marketing and advertising
4. Decide on a listing price
5. Prepare the property
7. Accept an offer or nominate reserve price
8. Sign sale contract
9. Pay the agent
Source: Real Estate Institute of Queensland